The term “cumulative life course impairment” (CLCI) has been proposed to capture the overall effects of psoriasis that result in altered or impaired life potential during the life course of a patient. Severity and comorbidities were the most frequently studied risk factors for CLCI in psoriasis. This study evaluated the health-utility values and risk factors for CLCI using Patient Acceptable Symptom State (PASS) and EQ-5D. This cross-sectional investigation enrolled patients with psoriasis attending the Psoriasis Clinic, Siriraj Hospital, Bangkok. Patients were asked PASS questions about their overall self-perceived health state, adaptation, and expectations for current, future, and lifelong conditions. The patients also completed EQ-5D. The mean age of 139 enrolled patients was 45.8 ± 14.4 years, and 57.6% were women. There were 121 (87.1%) cases of chronic plaque psoriasis, 9 (6.5%) of guttate psoriasis, 4 (2.9%) of erythrodermic psoriasis, 3 (2.2%) of pustular psoriasis, and 2 (1.4%) of acrodermatitis continua of Hallopeau. For current PASS, satisfaction was significantly associated with older age, being married, and lower disease severity. The mean health-utility value and EQ-VAS score of the 139 patients were 0.89 ± 0.12 and 77.0 ± 17.4, respectively. Patients would not accept their disease if they had moderate to extreme problems in usual activities and depression/anxiety for the future and lifelong. Univariate analysis revealed that depression and usual activities were significantly associated with satisfaction for current PASS, future PASS, and lifelong PASS. In conclusion, disease severity, age, marital status, problems with usual activities, and depression/anxiety were significantly related to CLCI. These findings may allow physicians to identify psychosocial and psychological aspects of psoriatic patients at high risk for developing CLCI. Early and adequate treatment, good coping strategies, and good social support can prevent a negative impact on CLCI and major life-changing decisions.